Inheritance and gift tax, the Government changes the rules. The pre-compiled one arrives

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News in sight for registration, inheritance and stamp duties. The Council of Ministers has given the green light to a legislative decree on indirect taxes (with the exception of VAT), implementing the delegation. Among the new features is also the launch of the pre-compiled succession declaration.

Leo: more legal certainty with rationalization of successions

“We have approved the twelfth draft legislative decree implementing the delegation” said the Deputy Minister of Economy Maurizio Leo in a press conference at the end of the Council of Ministers. «The main characteristics are simplification, legal certainty and rationalization», he explained, underlining that «the most substantial interventions concern the disciplines of trusts, the transfer of family businesses, the succession declaration, the tax settlement and the adaptation of the rules on donations.

Towards the precompiled one

In an attempt to simplify the obligations of heirs and the professionals who assist them, the decree lightens the content of the succession declaration but with the constraint of submitting it only electronically. The possibility of sending the report by registered mail or by another means which shows the date of dispatch will remain possible only for residents abroad.

The decree aims to eliminate requests for so much data. For example, the cadastral extracts relating to the properties and the certificate of the public registers indicating the elements identifying the ships and aircraft are eliminated.

The new rules for succession

In matters of succession, the draft decree defines the rules of territoriality of transfers deriving from trusts and other destination constraints. If the person setting up the trust is a resident of the State at the time of the separation of assets, the tax will be due in relation to all assets and rights transferred to the beneficiaries while. If, however, the settlor is not resident in Italy at the time of the separation of assets, the tax will be due only on the assets and rights transferred to the beneficiary present in the territory of the State.